1919 Madison Ave #702 · New York, NY 10032

$550,000

2 bd · 1.0 ba · 2,500 sqft · Condo · 6 Days on market

Built 1997

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.3/10.0

Listing remarks

Welcome to Maple Plaza, Unit 702- a prime well-appointed and spacious two-bedroom, one bathroom corner cooperative apartment. It features high ceilings with plenty of sunlight and a balcony facing the historic Marcus Garvey Park located across the street. The open living room and dining area provides plenty of space for entertainment. Also, the interior wall to wall carpeting provides extra comfort throughout the apartment. The Heat, hot water and storage space is included in the monthly maintenance as well. In addition, the semi enclosed kitchen space leads to the living room. This well-kept building also features a 24 hour Concierge Service, live-in superintendent, package room, residenti

Key facts

• Residential storage
• 24 concierge
• Package room

Tags

• CORNER COOPERATIVE APARTMENT
• SEMI ENCLOSED KITCHEN SPACE
• 24 CONCIERGE
• LIVE-IN SUPERINTENDENT
• PACKAGE ROOM
• RESIDENTIAL STORAGE

Property features AI

Finance

• HOA & community: Association: Maple Plaza; Monthly additional fee of $150 for a parking space; Community fitness center and other shared amenities

Exterior

• Parking: Garage with garage door opener; Assigned parking space (additional monthly fee for parking)
• Utilities: Electric service by Con-Edison; Public sewer; Municipal trash collection
• Home design: Cooperative apartment (stock cooperative); Eight-story building; Unit entry on level 7; Actual property condition
• Construction: Brick exterior; Brick/mortar foundation
• Exterior features: Brick construction; Brick/mortar foundation; Not waterfront; Planned development; Stock cooperative

Interior

• Kitchen: Cooktop; Range; Oven; Dishwasher; Open kitchen with pantry
• Bedrooms: One bedroom located on the first floor
• Flooring: Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom and full bath; Elevator access; High ceilings; Open kitchen; Pantry; Primary bathroom; Oversized windows with drapes; Bicycle room; Outdoor space
• Laundry & utility: Common area laundry; Laundry located in basement

🏢 Co-op / cooperative unit. The $550,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $550k.

Deal economics

• At list price, monthly cash flow is $-781 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $437k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $382k (30.5% below list).
• Recommended offer: $382k (30.5% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Mark Twain Is 239 For The Gifted And Talented (math 90% / reading 96%, grade A+, #6 of 729 statewide, top 1%, 1,207 students, 44% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising (+2.8%/yr); 79 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $3,823/mo this rent would consume 81% of the median local household income ($57k/yr) (locally 5464% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $46k of equity ($4k loan paydown + $42k appreciation (7.7% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $382,326 (30.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.70% ✗
• Cap rate: 4.59%
• Cash-on-cash: -6.08%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.66% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 2.07×
• Total profit: $164,415
• Equity at exit: $405,208

10-year hold

• IRR: 14.4%
• Equity multiple: 4.33×
• Total profit: $512,636
• Equity at exit: $792,566

Cash invested: $154,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 10032

• Home prices YoY: 1.8%
• Rents YoY: 2.8%
• Active inventory: 79
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,823 medium
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$803
• Net cashflow: $-781

Break-even live

Break-even rent $4,811

Max offer price $437,053

Occupancy floor —

Sensitivity live

Price	-10% $-400	-5% $-591	+0% $-781	+5% $-971	+10% $-1,161
Rent	-10% $-1,083	-5% $-932	+0% $-781	+5% $-630	+10% $-479
Rate	-1.0pp $-504	-0.5pp $-641	base $-781	+0.5pp $-923	+1.0pp $-1,068

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 W 127th St Unit 1 New York, NY	3.0	3.5	1899	$8,999	$4.74	26d	1	0.20mi
114 W 131st St Apt 2 New York, NY	3.0	2.0	2000	$6,750	$3.38	26d	1	0.49mi
114 W 131st St Apt 2 New York, NY	3.0	2.0	2000	$6,150	$3.08	19d	1	0.49mi
261 W 131st St Unit 1 New York, NY	3.0	2.0	2400	$7,000	$2.92	26d	1	0.70mi
1 Morningside Dr New York, NY	3.0	1.0–2.0	1655	$8,195	$4.95	0d	1	1.10mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-21
   days on market $550,000 Active 6 DOM
2. 2026-06-18
   days on market $550,000 Active 3 DOM
3. 2026-06-17
   pricedays on market $550,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $550,000,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,879
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$3,670
• − Management: −$3,670
• − Depreciation: −$16,000
• Taxable loss: −$19,270
• Est. tax savings @ 24.0%: +$4,625
• After-tax cash flow: $-4,742/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: New York County · 1,599,927 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 55,610
• Household income: $56,829
• Rent vs Own: 91.5% rent · 8.5% own
• Severe rent burden: 5464.0

Population outlook (New York County) Hauer SSP2

• Today (2025): 1,825,725 people
• By 2030: 1,904,611 · +4.3%
• By 2040: 2,052,719 · +12.4%
• By 2050: 2,206,601 · +20.9%
• By 2075: 2,509,427 · +37.4%
• By 2100: 2,702,933 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 14% Black 12% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 42%
• Common ancestry: Romanian 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 44% · Canada, China
• Languages at home: 38% English-only · Spanish 54% Other Indo-European 3% Chinese 2%

Political lean MEDSL · New York

• 2024 margin: Solid D (+64.8) · D 82.4% · R 17.6%
• 2008→2024 swing: -7.4pp toward R · 2008: 72.2pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+74.5 2016: D+77.2 2012: D+69.6 2008: D+72.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.66%
• Current HPI: 431.3199
• Rent YoY: ▲ 2.84%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-06-10 Listed $550,000,000 OneKey® MLS as Distributed by MLS Grid